OMX, the Nordic exchange group subject to a complex takeover, has revealed plans to grow its bond business next year in a bid to compete with debt trading rivals. The disclosure came as OMX suitor Nasdaq reported a more than sixfold rise in profits for the first nine months of the year to $438.4m (€308m).

OMX has said it will reorganise its diverse businesses into a single unit on January 1 to focus the exchange on increasing demand for fixed income trading and clearing services. The Nordic exchange group made the disclosure as it reported its third quarter results.